Workers' Compensation

The workers’ compensation insurance industry is not making a profit, says an analyst of the American insurance industry, and is currently losing 8.5 cents on every dollar of premium it collects.  This means rates will continue to rise in order to move the industry to profitability.  Although the situation has improved, most carriers are trying to recover from several years of negative results. 

Greg Nelson

The Workers Compensation Insurance Rating Bureau (WCIRB) announced today that it is recommending an overall 9.6% rate increase for workers compensation rates in California for the 2014 year.  The WCIRB is a neutral governmental entity that reviews loss information from all of the workers’ compensation companies in California and then recommends the rates for workers’ compensation insurance to the state insurance commissioner. 

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